TREASURER Curtis Pitt has announced $176 million in the State Budget for the “catalytic” expansion and upgrade of the Cairns Convention Centre.

Only $1 million will be spent in 2017-18 to develop a business case, but the State Government says it is setting aside $176 million to complete the project — subject to consideration of that business case.

The funding has been kept under wraps despite Mr Pitt previously calling the upgrades “the single best project that we could see happen in Cairns”.

Mr Pitt started delivering his 2017-18 Budget speech at 2.30pm, promising a surplus — albeit drastically reduced due to Cyclone Debbie — and confirming his earlier announcement of $120 million to dredge Trinity Inlet as part of the Cairns Shipping Development project.

But the convention centre’s major upgrade will be the crowning budgetary jewel for Cairns.